Carmarthenshire-based sash window manufacturer Victorian Sliders has secured a £4m equity investment from BGF to support its growth plans.
It follows a £14m investment from BGF (formerly known as the Business Growth Fund) two years ago, in what remains its biggest deal in Wales to date. HSBC is also supporting the firm’s growth plans.
The latest investment into the Ammanford-based firm, which employs more than 300 and produces around 100,000 window units a year, sees founder Scot Starkey leaving the business to pursue new business interests. As part of a succession plan he stood down as chief executive in March. He maintains a small equity stake in the business.
READ MORE: {}
Group managing director Steve Winslet, who is being supported by a new look management team, said: “Over the last 18 months, we’ve made significant strides in quality, reliability, lead times and customer service. We are determined to maintain that progress and turn Victorian Sliders into a world-class manufacturing company.
“We are incredibly excited to be entering a new era with the continued support of BGF’s investment team.”
On the departure of the firm’s founder, he added: :“We want to thank Scot Starkey for his years of investment and dedication to the business and wish him all the best for his future ventures.
“With an experienced new leadership team in place, our focus is on implementing a customer-centric strategy that puts the installers, housebuilders, local authorities and housing associations we work with first.”
The BGF investment was led by Edwin Davies and Hannah Waters.
Most Read
Mr Davies, investor at BGF who also joined the Victorian Sliders board following BGF’s initial £14m investment in 2021, said: “As a long-term investor we are proud to have supported Victorian Sliders in accelerating its growth journey over the last three years.
“We have seen Victorian Sliders go from strength to strength and we are confident that with the additional £4m of BGF investment, combined with the new leadership team’s experience and expertise, the business’s impressive growth trajectory will continue to gather further momentum.
“Steve is right to set his sights sky high and under his astute leadership, we are confident that Victorian Sliders will become a world class manufacturer for Wales to be proud of.”
Geraint Tilsley of Cardiff law firm Lewis Silkin acted for BGF on the deal. Andrew Hoad and Kate Wilson of fellow Cardiff law firm Hugh James,acted for Victorian Sliders.
BGF would not disclose the equity stake it now has in the business.